General Awareness

BUSINESS AND ECONOMY - July 2016

Jul 2016

Sep 04, 2023

Uday Kotak Steps Down as MD & CEO of Kotak Mahindra Bank

Uday Kotak has resigned from the position of Managing Director (MD) & Chief Executive Officer (CEO) of Kotak Mahindra Bank effective September 1, 2023, the bank said.
Uday Kotak has now become a non-executive director of the bank.
In the interim, Dipak Gupta, the joint Managing Director, will carry out the duties of the MD & CEO until December 31, 2023, subject to the approval of the Reserve Bank of India (RBI) and the members of the Bank.
Uday Kotak is the founder and promoter of the bank and has been the MD & CEO of Kotak Mahindra Bank Limited (earlier known as Kotak Mahindra Finance Limited) since August 1, 2002.

Biocon Acquires Eywa Pharma's US-based Manufacturing Facility

Biopharma company Biocon's wholly owned subsidiary, Biocon Generics, acquired the oral solid dosage manufacturing facility of US-based Eywa Pharma Inc located in Cranbury, New Jersey for $7.7 million (Rs. 63 crore). The acquisition is effective September 1.
The company stated that this facility in the US could further expand its capacity up to two billion tablets or capsules per year.
As part of the acquisition, the factory's workforce will transition to Biocon Generics Inc.
This latest acquisition comes on the heels of Biocon's expansion venture, as in 2022, its subsidiary, Biocon Biologics, successfully completed the acquisition of the global biosimilars business of its partner, Viatris Inc., in a deal worth $3.33 billion.

Zomato Launches AI Chatbot for Seamless Food Ordering

Food delivery and restaurant aggregation platform Zomato introduced 'Foodie Buddy,' also known as Zomato AI, a personalised artificial intelligence (AI) based chatbot.
As per the company, the chatbot has been designed to assist customers in making their dining choices.
This feature will be accessible exclusively to Zomato Gold members and will be launched in a phased manner.
The platform revealed that Zomato AI operates on a multiple-agent framework, endowing it with a diverse range of prompts for various tasks, essentially granting it multiple capabilities to cater to customer needs around the clock.

Sep 03, 2023

Tata Power Arm in Deal with Steel Maker Sanyo to Set up Captive Solar Plant

Tata Power Renewable Energy Ltd (TPREL) signed a power delivery agreement with Sanyo Special Steel Manufacturing India Pvt Ltd (SSMI) to set up a captive solar plant in Maharashtra's Aachegaon.
The plant located at Aachegaon, Maharashtra, is to generate 61.875 MUs (million units) of electricity in a year and would supply power to Sanyo Special Steel Manufacturing located within the state.
The project will likely be commissioned by March 2024.

Sep 02, 2023

Savart Launches Fully Automated Investment Fund - 'The Ad Astra Fund'

Savart, one of India's largest investment advisors, launched its maiden and flagship Portfolio Management Service (PMS) 'The Ad Astra Fund' in Hyderabad. The launch event was graced by eminent investors and industrialists from across the country. The fund received investment commitments amounting to INR 31 crore on the launch day itself and plans to achieve an AUM of INR 350 crore by FY24's end.

Centre Announces up to Rs. 50 lakh Grant for Technical Textiles Start-ups

The government will provide a grant-in-aid of up to Rs. 50 lakh for start-ups and individuals to promote innovation in the niche technical textiles segment.
The Start-up Guidelines for Technical Textiles - Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) providing grant-in-aid of up to Rs. 50 lakh for up to a period of 18 months was approved.
With a strong emphasis on developing the start-up ecosystem in technical textiles, the guidelines focus on supporting individuals and companies to translate prototypes to technologies & products, including commercialisation.

Sep 01, 2023

Bandhan Bank Authorized by RBI for Civil Pension Disbursement

Bandhan Bank was appointed by the Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO), Ministry of Finance, for civil pensioners. The Bank will soon be integrating with the office of the CPAO to operationalise the disbursement process.
This authorisation entitles the Bank to disburse pensions to the Central Government employees in Civil Ministries and Departments (other than Railways, Posts, and Defence), the National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired Judges of the High Courts and the Supreme Court, and All India Service Officers.
This Scheme also covers the payment of pensions to former Members of Parliament and the payment of pensions and other amenities to former Presidents and Vice Presidents of India.

Aug 31, 2023

JLL Appointed as Global Real Estate Facilities Manager by Rolls-Royce

Rolls-Royce appointed real estate group JLL to run global facilities management operations across the company's real estate portfolio in China, Germany, India, Singapore, the United Kingdom and the United States.
According to a statement by JLL, as part of the long-term contract starting February 2024, JLL will operate as Rolls-Royce's strategic global facilities management partner across 15 million square feet of manufacturing, warehouse and office space at 44 sites in six countries.

Axis Bank Launches Paid Saving a/c with No Charges for Services

Axis Bank, a private sector lender, launched its 'Infinity Savings Account', offering special features for its customers, including no domestic transaction charges in exchange for monthly fees. The move aims to appeal to those who frequently adopt subscription-based models.
This innovative savings account provides Axis Bank customers with exclusive privileges such as a waived average monthly balance (AMB) requirement, complimentary debit cards, and a waiver of all domestic charges against a small monthly recurring fee of Rs. 150 or an annual fee of Rs. 1,650.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

August GK, July GK, June GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services And Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26